Our Mission: to empower tenants to become homeowners through programs for education, construction and creative financing.

Tenants to Homeowners, Inc.

The Lawrence Community Housing Trust

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What are the eligibility requirements?

  • You must attend one First Time Homebuyers workshop held by Tenants to Homeowners. Click here for the 2014 Workshop Schedule.
  • Homes must be owner-occupied. LCHT does not subsidize landlords.
  • You must be able to qualify for a home loan from a TTH lender. This means you must have stable verifiable income, good credit and a low debt-to-income ratio. If you have questions about qualifying for a loan, please contact us at 842-5494.
  • Your total gross family income must not exceed the following 2014 income limits.

     Family Size *                      80% of Median 

                                                               1                                                      $37,700

                                                              2                                                      $43,100

                                                              3                                                      $48,500

                                                              4                                                      $53,850

                                                              5                                                       $58,200

                                                              6                                                        $62,500

                                                              7                                                         $66,800

                                                               8                                                       $71,100

    *TTH measures a family as the number of people who will be living in the house.

  • What is the Lawrence Community Housing Trust (LCHT)?

    How does the Housing Trust guarantee continual affordability? The Lawrence Community Housing Trust builds new homes and rehabilitates old homes, then sells to eligible buyers for approximately $50,000 less than the home's market appraisal value. In exchange for this subsidy, the buyers agree that if they resell their LCHT home, the price will be affordable to another eligible buyer. Read more about this affordability model in a national scope at http://www.cltnetwork.org/

    What does this mean?

    To the LCHT sellers, this means they gain equity from mortgage payments, plus improvements made to the land and 25% of the market appreciation. To the new LCHT homebuyer, this means the house is affordable because the purchase price has not skyrocketed.

    Doesn't a restricted resale agreement reduce the profit from homeownership?

    No, because those who qualify for our program don't have other options for homeownership. They either cannot afford  the market rates or cannot afford to repair an initially affordable home that needs a lot of work. The housing trust provides a chance for a low-to-moderate-income family to buy a home. The resale profit to an LCHT homeowner, while limited, is something renting never provides.

    Why do we restrict the resale prices?

    Because it costs so much money to make a house affordable, we want to keep the house affordable beyond the first purchase. Studies indicate the demand for affordable housing will explode in the next ten years, and it's important that every dollar that makes homes affordable now is saved to keep them affordable later.

    How, exactly does the limited resale agreement work?

     Legally, LCHT separates ownership of the house from ownership of the land the house sits in. LCHT sells the house to an eligible buyer and leases the land to the buyer for $25 per month. The new LCHT homeowner uses the property like any other homeowner - Painting, mowing, putting up a fence - LCHT isn't a typical landlord. The land-lease agreement is the legal method that allows LCHT to keep the home affordable to the next buyer. When ready to sell, the homeowner calls us.

    How to buy an LCHT house         Home Loan Financing       Repairing your Credit      Testimonials       Program Key Features  

    Tenants to Homeowners, Inc. is a nonprofit Community Housing Development Organization (CHDO) that serves the City of Lawrence, KS.

    2518 Ridge Court, Suite 103 Lawrence, KS 66044 Phone 842-5494 Fax 842-7570 LawrenceLandTrust@yahoo.com Copyright 2007 TTH